In Europe, revenue decreased 16% year-on-year to $7.9 million for the second quarter ending June 30, 2017. In constant currencies, revenue decreased 9% year-on-year. Operating profit for the second quarter was $268,000, or 3% of revenue, compared with operating income of $1.7 million, or 18% of revenue in the prior-year period.

For Asia Pacific, revenue decreased 20% year-on-year to $2 million (or 16% in constant currencies). Operating loss for the second quarter was $1.2 million, compared with an operating loss of $1.2 million in the prior-year period.

The disappointing results come shortly after the resignation announcement of Europe president Richard Singer earlier this week. Singer joined in 2012, and will step down on September 30 this year. 

Globally, revenue was down 8% year-over-year to $26.4 million, with an operating profit of $1.4 million, however members have grown to 29.3 million. In Europe, it had 8.4 million members as of June 30, 2017, up 3% on the year before. In North America, members stood at 17.4 million as of June 30, 2017, consistent with June 30, 2016. In Asia Pacific, there were 3.6 million as of June 30, 2017, again consistent with the June 30, 2016 figure. 

"We never compromise the quality of the offers which we provide to our members – even if it resulted in less deals being promoted during the second quarter of 2017 and a corresponding decrease in revenue of certain products," said Holger Bartel, global chief executive of Travelzoo.

"Our top priority is to provide Travelzoo members outstanding, exclusive travel and entertainment experiences. We remain ambitious to grow Travelzoo’s global brand and business."